Recent Gas News/GasBuddy Blog

CleanTechnica.com -- Over in the UK we like to do things … well, a little differently. That stiff upper lip nonsense was always a bit of a ruse, hiding a reckless ability to do those things sane human beings would never think of doing.

Like slinging a live four way power socket into a bath tub. Zap, you’re dead .. as the saying goes.

Yet this is precisely what’s been going on off the south west coast of Britain but with two crucial differences: the four huge plugs (like the one pictured) are designed as energy receivers, not emitters; and the Atlantic Ocean is a wee bit bigger than your average bathtub.

Ten miles off the Cornish town of Hayle, 180 feet below the sea, lies a 12 tonne four way plug which cost $64 million to build and install. Called the Wave Hub, it can have four 5MW marine power devices conn  (go to article)

Gizmag dot com -- Despite being gas-guzzlers, classical cars have an undeniable appeal that has inspire people to admire, and even invest time, effort and money at them.

This 1949 Delahaye 175 S Saoutchik Roadster is considered one of the world's beautiful car, but I leave you to make your own conclusions.

Excerpt:
"...[At auction] The work of prodigiously talented automotive stylist and coachbuilder Jacques Saoutchik, this 1949 Delahaye 175 S Roadster is expected to fetch around US$6 million.

Saoutchik was a cabinet maker when he moved to Paris from his home in Ukraine around 1900, but he didn’t take long to establish himself in the fledgling automotive coachbuilding industry and he showed a consistent flair over the next 50 years which puts him among the very elite of automotive designers..."  (go to article)

CBC -- Lower fuel prices and big customer incentives have made trucks a surprising winner with consumers who might otherwise have opted for a car, and that's expected to carry over into 2011, the chief executive officer of Ford Canada says.

Canadians are buying trucks in a big way, but Ford Canada's CEO warns it's not sustainable as fuel prices rise. (David Zalubowski/The Associated Press)
Over the longer term, however, the trend is not sustainable, David Mondragon said Thursday at a business luncheon at a downtown Toronto hotel.

"We know that artificially inflating demand with high consumer incentives is not the way to go. We know that we cannot afford to take a short-term view," Mondragon said.

"In the not too distant future, we predict oil prices to exceed $100 US per barrel once  (go to article)

CBC -- Canadian environmentalists say they are encouraged by meetings with U.S. Speaker Nancy Pelosi, describing her as committed to reducing fossil fuels and interested in learning more about the impact of Canada's oilsands.

Several environmental and First Nations leaders met Thursday in Ottawa with Pelosi and Ed Markey, chair of the U.S. House of Representatives select committee on energy independence and global warming.

"They were very interested in what we had to say about the environmental impacts of the tarsands and the very, very damaging social impacts of the tarsands in the northern Alberta area," Rick Smith, executive director of Environmental Defence, told reporters after the meeting.
 (go to article)

CleanTechnica -- The European Commission’s Institute for Energy in 2000 estimated global supplies of coal to last 277 years. In 2007, that number was lowered to 155 years.

This forecast may sound like plenty of time to adjust to meeting our energy needs in from other sources, but how accurate are these numbers really? The National Academy of Sciences Report on Coal, from June 2007 isn’t very encouraging....While oil lurks below the surface and can be hard to detect, coal fields can be identified by outcrops. This means that the locations of coal reserves are known and new coal discoveries are unlikely.  (go to article)

Bankrate.com -- Car insurance doesn't have to break the bank. Shopping around for cheap car insurance, lowering your deductible, taking advantage of discounts and rolling the car insurance into other insurance policies are some of the ways to get cheap car insurance. ...Four Steps..  (go to article)

CNet -- Once again, European drivers will have access to cars with better gas mileage than their U.S. counterparts.

Peugeot announced Tuesday that its 3008 Hybrid4 diesel hybrid car will be available in Europe in spring 2011 and will get roughly the equivalent of 62 miles to the gallon.
 (go to article)

NY Times -- DO you believe in love at first sight? Consider this: One look was about all it took when executives of Tata Motors, who in late 2007 were deciding whether to buy Jaguar from Ford Motor, saw sketches of what would become the 2011 XJ.

“What we had coming to market,” Gary Temple, president of Jaguar North America, said in a recent interview, “was what made them buy the company.”

Developed largely before Tata, of India, took over, the new XJ is a bold, mold-breaking styling statement. The old XJ’s long-running retro theme — traditional grille, quad headlamps, sculptured hood, low beltline and long tail — has finally been exorcized. While unmistakably a Jaguar, the new XJ is a thoroughly modern, flamboyant, unfettered expression of luxury. .......  (go to article)

Salt Lake Tribune -- As Gov. Gary Herbert prepares today to stage the first of four statewide forums on Utah’s energy future, a Rocky Mountain environmental group has some advice: Forget oil shale and tar sands.

Western Resource Advocates issued a 38-page report Tuesday on the energy and water inefficiency of either potential fuel source. The title: Fossil Foolishness: Utah’s Pursuit of Tar Sands and Oil Shale.

The Boulder, Colo.-based legal and policy group commissioned a Boston University geographer to analyze the energy return on investment for oil shale. He determined that most research indicates that, at best, making fuel from the rock would generate twice the energy content of what it takes to produce. That compares to a 20-to-1 ratio or better for petroleum.  (go to article)

GasBuddy Blog -- The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

Crude oil inventories decreased by 1.9 million barrels to a total of 359.9 million barrels. At 359.9 million barrels, inventories are 22.4 million barrels above last year (6.6%) and remain above average. Supply at NYMEX delivery point, Cushing, Oklahoma decreased some 300,000 barrels to 35.5 million barrels this week. Supplies at Cushing have decreased for the last five consecutive weeks.

Gasoline inventories decreased 0.2 million barrels to 225.2 million barrels. At 225.2 million barrels, inventories are now 18.0 million barrels, or 8.7% higher than last year (last...  (go to article)

ABC News -- These odd and quirky attractions lure in motorists to out-of-the sights.

Nothing says America like a great road trip. And nothing makes the adventure better than running across some of the odd and quirky attractions aimed to lure in motorists.

Chicken Boy was originally part of a fried chicken stand, dating back to the 1960s. But after the stand closed, the statue was moved to the rooftop of Future Studio Design & Gallery on Historic Route 66 in Highland Park, a neighborhood just north of downtown Los Angeles. The 22-foot tall fiberglass man-bird now symbolizes a roadside culture that is fading away.

 (go to article)

Bloomberg -- By Cornelius Rahn

Ford Motor Co., the second-biggest U.S. carmaker, said the global automotive market will expand by 5 percent to 10 percent in 2010 as the worldwide economic recovery takes hold.

Asian markets, where growth is moderating, remain strong, John Fleming, Ford’s head of global manufacturing and formerly its top European executive, said today in a webcast. In Europe and the U.S., consumer spending will revive slowly from “below- trend” levels as central banks offer cheap credit to encourage buying, he said.

“The economy is improving, but the strength of the recovery is uneven,” with “weaker” markets in Europe as government incentives for auto sales expire, Fleming said. An industrywide capacity “shakeout” is likely in the region, where vehicle pricing remains under p  (go to article)

Reuters -- EAGLES MERE, Pennsylvania (Reuters) – In the rush to develop America's biggest new source of domestic energy, one community is fighting to protect its rural way of life from the environmental strains that accompany shale gas drilling.

Residents of this wealthy north-central Pennsylvania vacation community are refusing to lease their land to energy companies scrambling to grab a piece of the Marcellus Shale, a massive natural gas deposit believed to contain enough of the fuel to satisfy total U.S. natural gas demand for 20 years.

Most of the doctors, lawyers and executives who own homes in the resort about 150 miles northwest of Philadelphia are unmoved by offers of lease payments of at least $2,500 an acre, or by the promise of royalties on gas harvested from what is expected to beco  (go to article)

Wall Street Journal -- Business groups are cranking up a multi-state TV and radio campaign today to make the case against the Obama administration’s plan to raise energy taxes to pay for some of its new economic initiatives.

The business groups, including the National Association of Manufacturers and the National Federation of Independent Business, worry that higher energy taxes would force up prices and make their members less competitive.

In the face of continued economic weakness, President Barack Obama has rolled out a series of proposals this week for more public infrastructure spending, permanent extension of a current tax break for business research, and creation of a new temporary tax break for business purchase of plant and equipment.  (go to article)

USA Today -- Just when its future looked to be in doubt, automakers are putting some new life in the old V-8.

Despite pressure from federal gas mileage rules ratcheting up, makers are selectively peppering their lineups with the iconic engine — known for smooth, high-torque power — that many thought was an endangered species. These days, however, it likely is reserved for luxury or performance models.

Last week, Ford Motor said a hulking 6.2-liter V-8 will power its off-road performance pickup, the super-size Ford F-150 SVT Raptor SuperCrew cab. And Chrysler Group said its new 2011 Dodge Durango "performance SUV," a three-row crossover due later this year, will have an optional 5.7-liter Hemi V-8, as well as a standard V-6.  (go to article)

Bloomberg Businessweek -- Gov. Phil Bredesen announced Wednesday that Tennessee will offer a $2,500 rebate on the first 1,000 electric vehicles sold in the state.

The Democratic governor announced the rebate program in a speech to a Tennessee Valley Authority forum in Nashville. The Tennessee rebate will be in addition to a $7,500 federal tax credit for electric vehicles.

"This it makes it just a little bit easier for Tennesseans to be pioneers in trying out electric cars and making them accessible and affordable in the state," Bredesen said.  (go to article)

CNN -- Beijing, China (CNN) -- Nearly 200 commercial pilots in China falsified their flying experience, Chinese aviation officials have discovered.

The announcement follows one of China's worst plane crashes in six years, and highlights the high demand for pilots as the country has seen a boon in air travel.

Aviation officials began investigating pilot qualifications after the Shanghai-based China Business News broke the story. Implicated pilots have had their licenses revoked or have been ordered to take extra training, according to state-run media.

The investigation of pilot qualifications is part of an overhaul of airline safety, the Civil Aviation Administration of China said, according to the state-run China Daily.
 (go to article)

2.highlandstoday.com -- There's good news at the convenience store pump: Labor Day is over, which traditionally means gasoline prices will go down.
The national average price for gasoline has been falling through August, when it usually rises..

Now the crucial question: how low will it go?
A plunge in wholesale gasoline prices earlier this month continues to push down prices at the pump, PFGBest analyst Phil Flynn told the Associated Press. Gasoline supplies are nearly 12 percent above the five-year average, and demand is below pre-recession levels.

"We're going into the weakest demand period of the year, Typically, after Labor Day,.. demand drops and refineries begin a maintenance period as they.. prepare the switch..from the summer blend fuel to the winter blend. The winter blend fuel is less expensive  (go to article)

Bloomberg -- Oil advanced for a second day after an industry report showed U.S. crude inventories declined and the dollar weakened against the euro, boosting the appeal of commodities as an alternative investment.

Futures also rose as stocks climbed after improved demand for bonds from Portugal to Poland eased concern that Europe’s sovereign-debt crisis will derail the global economic recovery. U.S. crude stockpiles fell 7.31 million barrels last week, the American Petroleum Institute said. An Energy Department report today may show supplies increased.

“There continues to be this continued sense of relief that the economy doesn’t appear to be heading back into recession,” David Taylor, a market analyst at CMC Markets Ltd. in Sydney, said in an e-mailed note.

The October contract gained as much as 60  (go to article)

Globeandmail.com -- By Josh Wingrove

Excerpts

Fresh out of a dinner discussion about Canada’s controversial oil sands with the third-most powerful politician in America, Alberta Premier Ed Stelmach had a quick assessment of how it went: “Better than I thought.”

"The meeting ...came at a critical time in the energy trading relationship between the two countries. Washington is considering approval of the massive Keystone XL pipeline project,"

"...learn about the oil sands, one of her nation’s foremost sources of oil."

"...his province’s economy relies squarely on U.S. energy consumers. In 2008, the U.S. bought $79.5-billion in energy from Alberta."

"the meetings are a chance to counter the allegations that the oil sands are the dirtiest oil on earth."
 (go to article)

Bloomberg.com -- By Mark Shenk

The Energy Department decreased its crude oil price forecast for 2010 on reduced projections of economic growth in the U.S., the world’s biggest oil consuming country.

West Texas Intermediate oil, the U.S. benchmark, will average $77.37 a barrel this year, down from last month’s forecast of $79.13,

Prices will climb 6 percent to average $82 a barrel in 2011, the report showed.

Regular gasoline, averaged nationwide, will cost $2.76 a gallon from April through September, according to the report from the EIA,

Global Demand

The department raised its outlook for global oil consumption this year to 85.95 million barrels a day from 85.91 million last month. That’s up 1.9 percent from last year’s 84.33 million. Demand will climb to 87.36 million in 2011, 60,000 barrels a day  (go to article)

Los Angeles Times -- The ultimate sealing of BP's gulf oil well may not get underway until late this month or early October because experts want more time to analyze the well, fish out a broken pipe and possibly apply another cement seal on the top for "more insurance" against unlikely troubles, a top federal official said.

National spill-response chief Thad Allen, in a conference call with reporters Wednesday, reiterated his promise that there was "no threat" of oil leaks from the well now that a stronger blowout preventer had been placed on top of it.

The new equipment gives experts the luxury of taking a few extra steps to ensure that they will not encounter problems with the final "bottom kill." During this procedure, the original well's outer ring, or annulus, will be intersected underground with a  (go to article)

Yahoo! Sports -- Yep, that's Ron Artest being stopped by police for driving a tiny race car through Los Angeles. Vin Diesel would be proud.  (go to article)

Associated Press -- NEW YORK (AP) -- Oil prices followed stocks higher on Wednesday, as worries about European debt problems eased and buyers returned to the market.

Benchmark crude for October delivery rose 58 cents to settle at $74.67 a barrel on the New York Mercantile Exchange.

At the pump, gasoline prices inched down to a national average of $2.68 a gallon, according to AAA, Wright Express and Oil Price Information Service. That's about the same as a week ago and 10.2 cents above a year ago.

Shares of oil and gas companies climbed after Fitch raised its rating on BP. The troubled energy giant issued a report Wednesday taking blame for the big spill in the Gulf of Mexico, while saying other companies involved in the Deepwater Horizon disaster shared some blame. BP shares rose $1.18, or 3.2 percen  (go to article)

McClatchy -- BP, the energy giant responsible for the largest offshore oil spill in history, helped develop California's framework for teaching more than 6 million students about the environment.

Despite a mixed environmental record even before the Gulf of Mexico disaster, state officials included BP on the technical team for its soon-to-be-completed environmental education curriculum, which will be used in kindergarten through 12th-grade classes in more than 1,000 school districts statewide.  (go to article)

Economist -- "...Sugar has been grown in Brazil for 500 years, and the country is by far the world’s biggest exporter of it. But sugar now also forms the nucleus of a new agro-industrial and renewable-energy complex. Biofuels, mainly derived from sugar, are Brazil’s most important source of energy after oil. For a unit of energy, the production and use of sugar-based ethanol generates only two-fifths of the carbon emissions of petrol, and half those of corn-based ethanol, according to the United States Environmental Protection Agency. And bioplastics made from sugar cane are poised to move from the laboratory to the corner store, with the launch of soft-drink bottles.

Yet the industry is struggling to turn all these economic and environmental benefits into reliable revenues...."  (go to article)

Gizmodo -- Aha! It looks like State Farm's app isn't the only app that helps keep you from texting while driving—there's SMS Replier too. And this app will know when you're driving.

So not only can you set customized replies, you can also choose how long you're doing the activity, so the phone will only reply "In a meeting" during the two hours that you set that you're in a meeting. (Would be nice if this synced up with your Google Calendar too, to automatically know what you're doing.)  (go to article)

NewScientist -- ELECTRIC vehicles are expected to stream onto the roads over the next few years, but some drivers may be put off by fears that they could be left stranded if their battery runs out of charge.

Zafer Sahinoglu at the Mitsubishi Electric Research Laboratories in Cambridge, Massachusetts, and colleagues, think they have found a way to prevent this. They are developing a network of portable charging stations, which can be moved to wherever the demand for recharging is greatest.  (go to article)

Calgary Herald -- CALGARY -- Dana Petroleum has confirmed it will buy North Sea assets of Calgary-based Suncor Energy for $390 million with an effective date of July 1, 2010.

The U.K. explorer also rejected a hostile $2.57 billion US bid from Korea National Oil Corp., citing an independent valuation that said Dana was worth considerably more.

Dana said the Suncor deal supports the case for KNOC raising its bid.

"This whole issue is around value and value for all our shareholders and that's the only goal of the Dana management team," Dana chief executive Tom Cross said on a conference call with reporters.

Cross said that the valuation reached by the independent experts was based on information about its 100-plus licences in the North Sea and Egypt which had not previously been made public and to  (go to article)

GasBuddy Blog -- Do you know what type of fuel your vehicle manufacturer recommends? I'm sure you, like many people, know what type of gasoline is recommended- but I also know that some people ignore that suggestion. I also know looking at statistics that many more people are likely to ignore that recommendation (or even requirement) in times of economic uncertainty or a recession.

Its very interesting to compare gasoline sales (in grade- regular, mid-grade, and premium) during normal times to those times when the economy has been in recession.

For this comparison and analysis, I used gasoline sale data from the Department of Energy, which has kept records on gasoline sales by type of fuel going back to 1983 (in most cases). I also looked...  (go to article)

CBC -- As tens of thousands of dwarf seahorses flounder in the oil-infused Gulf of Mexico, a University of British Columbia researcher says their plight is a cautionary tale in the debate over permitting Big Oil's tentacles on the West Coast.

The tiny creature is under threat of extinction after the massive BP oil spill last April, and isn't being helped by abrasive cleanup methods underway, said Amanda Vincent, director of the international Project Seahorse conservation group.
 (go to article)

Associated Press -- Oil prices skidded below $74 a barrel Wednesday as traders followed stock markets down on reports European banks may be saddled with more risky debt than previously estimated.

By early afternoon in Europe, benchmark oil for October delivery was down 16 cents at $73.93 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 51 cents to settle at $74.09 on Tuesday.

Most major Asian and European stock markets fell Wednesday following a 1 percent slide in the Dow Jones industrial average the day before, when reports claimed that EU stress tests of banks in July understated some lenders' holdings of potentially risky debt. Germany's top 10 banks will have to raise as much as $135 billion to meet new capital requirements, reports said.

Oil traders often loo  (go to article)

The Detroit Free Press -- BY BRENT SNAVELY AND TODD SPANGLER
FREE PRESS STAFF WRITERS

Eager to claim a bigger stake in the luxury car market, Lincoln is about to use an aggressive pricing strategy with an environment-friendly, gas-electric hybrid vehicle, the 2011 Lincoln MKZ.

Next month, the vehicle will appear on lots with a $35,180 sticker -- $795 below the price for a competitor, the 2011 Lexus HS 250h.

Car critics who drove the new MKZ last week published their first impressions today.

Toyota and its Lexus luxury brand dominate the U.S. gasoline-electric hybrid market with 69% sold in the first eight months of 2010. Ford was a distant second at 19.3% with its Escape/Mariner SUVs and Fusion/Milan sedans.

Lower gas prices have helped cut hybrid sales by 11% in the U.S. this year.
 (go to article)

CBC -- BP says a "sequence of failures" involving "multiple companies" led to the explosion and fire that killed 11 people and caused a massive Gulf of Mexico oil spill.

In a 193-page report released Wednesday and posted on its website, the company said the accident arose from “a complex and interlinked series of mechanical failures, human judgments, engineering design, operational implementation and team interfaces.”

The internal report was prepared by a team led by BP's head of safety and operations, Mark Bly.

The April 20 explosion and sinking of the Deepwater Horizon rig led to the leak of millions of barrels of oil into the Gulf became the worst ecological disaster in the United States in recent memory.

BP's report will likely lay the foundation for its legal defence in future  (go to article)

Discovy News -- A team of Swiss researchers has released conclusive data showing that the environmental impact of an electric vehicle is much less than previously thought.

As any EV advocate will tell you that electric vehicles are extremely green when fueled from renewable energy such as solar or wind power. And even those fueled from non-clean power sources, such as gas, oil and coal are less polluting than gasoline cars.

But EVs have a sinful side that cannot be ignored. Batteries.

Some of the most vocal anti-EV spokespersons say that mining the minerals and metals used in electric car batteries is much more damaging to the planet than drilling for the oil that fuels gasoline cars.

 (go to article)

CNN Money -- In May, less than a month after the blowout of the Deepwater Horizon oil rig in the Gulf of Mexico, a key milestone was achieved with little notice: Total U.S. supplies of petroleum and products refined from it (including the Strategic Petroleum Reserve) surpassed 1.8 billion barrels, reaching the highest level in the last 20 years. Since then the total has continued to edge upward, hitting 1.87 billion barrels in the week ended August 27, according to the Energy Information Administration.

Despite the Iraq War and the resulting production disruptions, despite the moratorium on drilling in the Gulf....

the United States has more petroleum on hand today than it has had since at least the beginning of the first Gulf War.  (go to article)

NY Times -- The vice chairman of the Kia Motors Corporation, Chung Sung-eun, stepped down on Sept. 3 after recalls involving scores of vehicles worldwide for electrical problems.

President Lee Hyoung-keun will replace him, a Kia spokesman, Michael Choo, said Tuesday.

“The resignation came on the heels of recently announced recalls,” Mr. Choo said.

In light of the Toyota Motor Corporation’s prominent quality problems in the last year involving 10 million vehicles, Kia has acted properly and expeditiously, said George Magliano, director of automotive research at IHS Global Insight...  (go to article)

NY Times -- A new report from a University of Michigan researcher estimates that, even without going electric, U.S. cars and trucks could achieve an average efficiency of 74 miles per gallon by 2035. Compared to a federal 2005 Corporate Average Fuel Economy (CAFE) baseline, that’s a tripling of fuel economy.

Under the researcher’s fuel economy projections, the average car in 2035 would save 5,254 gallons over its lifetime compared to a similar 2005 vehicle, and would emit 47 tons less carbon dioxide......  (go to article)

Bloomberg -- Oil in New York will trade in a $5 range in the short term as prices are locked in a “stalemate,” according to broker Newedge.

Crude for October delivery is stuck between $70.76 and $75.59 a barrel as price movements illustrated by candlestick charts show a narrow gap between the daily opening level and closing for trading on Sept. 3 and Sept. 7, said Veronique Lashinski, a Chicago-based analyst at the brokerage. That means neither buyers with expectations of rising oil nor sellers expecting a decline are able to influence direction, she said.

“The last two days’ price action featured small-bodied candlesticks which illustrate a stalemate between the bulls and the bears,” she said in a report yesterday. “Our bias is neutral in the short term.”  (go to article)

Domestic Fuel -- Did you know that 60 cents of each gallon of E85 purchased stays in the state of Iowa? I didn’t know that until I participated in the Iowa Corn Fed Game Day pump rally at Riverside, Iowa to get people “pumped up” for the upcoming Iowa State versus Iowa football game. Another way to look at this is for each gallon of E85 you purchase, 85 cents stays in America; whereas if you purchase E10, only 10 cents stays in America while 90 cents heads out of our borders.

Here are two more interesting facts. Did you know that Iowa is ranked #9 in the country; yet non-ranked Iowa State has the most difficult schedule this year?  (go to article)

CNN -- BP on Wednesday is expected to release findings of an internal investigation into the Gulf oil disaster, the oil giant said.

The report comes nearly five months after an April 20 explosion aboard an oil rig left 11 men dead and spewed millions of barrels of oil into the Gulf of Mexico over an 87-day period.

A federal task report on Tuesday said scientists have found a decline in oxygen levels in the Gulf following the BP spill, but no "dead zones."

Levels of dissolved oxygen in deep water have dropped about 20 percent below their long-term average, according to data collected from up to 60 miles from the well at the center of the worst oil spill in U.S. history.

But much of that dip appears to be the result of microbes using oxygen to dissolve oil underwater, and the decline is  (go to article)

The Street -- Oil prices may trade lower this week on rising inventories. Last week, U.S. Energy Information Administration reported that crude oil stockpiles rose. Meanwhile, Baker Hughes(BHI) rig count stands at 977, up 4 from the penultimate week. Rising rig counts and higher refinery utilization shows an increase in production, leading to a decline in oil prices.

However, major economic releases are expected to be positive for the economy, which may improve oil prices to some extent later. Overall, oil prices are expected to end the week on a negative note.

Crude futures for October delivery declined 0.75% after hitting a low of $71.53 per barrel, and ended the week on a bearish note at $74.60. Crude is trading below the major trend line resistance and has a potential to fall further. Momentum ind  (go to article)

The Associated Press -- LAS VEGAS — With clean-energy legislation trapped in a political deadlock, renewable-energy advocates called big business the new leader in the nation's green revolution during a national summit meeting Tuesday.

John Podesta, president of the Center for American Progress, said untapped potential in the sustainable energy market could revive the stalled economy and end the recession.

"The focus now has got to be on getting these worlds and mechanisms together to finance innovative, renewable technology," Podesta said.

The Center for American Progress Action Fund and Democratic Senate Majority Leader Harry Reid hosted the third in a series of national clean-energy summit meetings Tuesday at the University of Nevada, Las Vegas. More than 40 people rallied outside the event, with some  (go to article)

CNBC -- Oil fell for a third straight session on Wednesday, with the U.S. benchmark depressed by brimming petroleum stockpiles, as the dollar jumped and Asian equities declined on investor attempts to reduce risk exposure.



The dollar gained almost 1 percent against a basket of currencies while Japan's Nikkei average fell 2 percent on renewed concerns about European banks and the global economy, which pulled global stock markets down from one-month highs on Tuesday.

The euro was on the defensive as the latest scare over the euro zone banking system slapped it to lifetime lows against the Swiss franc and Australian dollar.

U.S. light, sweet crude [US@CL.1 73.71 -0.38 (-0.51%) ] for October fell 32 cents to $73.77 a barrel by 0013 GMT. The front-month contract pared losses on  (go to article)

CNBC -- U.S. crude oil pared losses and Brent crude turned positive after a deadly explosion ripped through a Mexican oil refinery, raising concerns that Mexico, a top U.S. crude supplier, would have to import more fuel.


AP
text deleted


U.S. product futures surged after news of the blast at the 275,000 barrel-per-day Cadereyta plant, Mexico's third biggest and most sophisticated refinery.

Mexico, which already relies on imports for more than 40 percent of domestic gasoline demand, could now be forced to boost fuel imports significantly.

"This should increase Mexico's demand for imports from the United States - one of the key things that will eventually drag down record U.S. oil product stocks is export demand  (go to article)

TheStreet -- Crude prices are expected to decline this week on bearish technical indicators, rising inventories and improving refinery utilization rates. Meanwhile, natural gas is likely to trade higher on bullish technical trends and higher demand.

Oil prices may trade lower this week on rising inventories. Last week, U.S. Energy Information Administration reported that crude oil stockpiles rose. Meanwhile, Baker Hughes(BHI) rig count stands at 977, up 4 from the penultimate week. Rising rig counts and higher refinery utilization shows an increase in production, leading to a decline in oil prices.

However, major economic releases are expected to be positive for the economy, which may improve oil prices to some extent later. Overall, oil prices are expected to end the week on a negative note.
 (go to article)

Reuters -- Tue Sep 7, 2010 4:54pm EDT

* Worries over Europe's banks help pressure crude
* Mexican refinery blast lifts RBOB, heating oil
* Coming up: API inventory data Wednesday

NEW YORK, Sept 7 (Reuters) - U.S. crude oil futures fell on
Tuesday amid renewed concerns about Europe's banks and the euro
zone economy that pushed equities lower and helped strengthen
the dollar.

But the day's losses were sharply pared as crude futures
got support from gasoline and heating oil futures, which
rallied following news of an explosion that ripped through a
major Mexican refinery.

The news spurred speculation that the blast could force
Mexico, which already relies on imports to meet more than 40
percent of its domestic gasoline demand, to significantly
increase fuel imports.
 (go to article)

Wild Singapore News -- Lester Kok Straights Times, 4 Sep 10;
...
Battizer, which started in March, used the same technology to develop a quick charger for electric vehicles (Evs). It then took its vehicle charger to FTD Technology, the local distributor of India-made Ampere electric scooters. In the test, the scooters' batteries were charged fully in just one hour, a fraction of the normal four to eight hours ... . ... . The charging time is shortened, the battery remains cool while charging and the e-scooter's performance is much better than before,....
... this quick-charging innovation is critical for EVs, especially in countries like India and Indonesia, where electrical supply can be disrupted at any time.
 (go to article)

Star Chronical -- Taxi driver Dwight "Barron" Jones zipped into a Valero Corner Store in San Antonio last week when he saw fuel was selling for $2.199 a gallon.

The startling price — 27 cents cheaper than regular gasoline - was for E85, a blend of 85 percent ethanol and 15 percent conventional gasoline.

Jones has used the blend in the past at other E85 pumps in San Antonio, and said he was glad to see a new one.

"I think this will save me a little bit of money," said Jones, who owns his taxi, a 2008 Dodge Grand Caravan, and often fills up twice a day.

The use of E85 is about to get more exposure, as San Antonio-based Valero Energy Corp. recently announced it will add E85 pumps to all of its new Valero Corner Stores as they're built throughout its system  (go to article)

Associated Press -- WASHINGTON – Federal scientists are reporting the best possible scenario for BP's leaked oil: Microbes are munching the underwater oil, but not robbing the Gulf of Mexico of much needed oxygen or creating so-called "dead zones."

Oxygen levels in some places where the BP oil spilled are down by 20 percent, but that's not nearly low enough to create the dead zones where fish can't live, according to a 95-page report released Tuesday.

Trying to disperse the oil underwater is like walking a tightrope. In an unusual move, BP released 771,000 gallons of chemical dispersant at the leaking well head, about a mile deep, instead of just on the water surface to break up the oil into tiny droplets.

That makes it easier for the oil-eating microbes to do their job, but in doing so they deplete  (go to article)

Courthouse News Service -- Wisconsin can once again enforce a minimum markup on gas prices after the 7th Circuit dissolved an order barring the markups, citing a lack of evidence that they violate federal antitrust regulations.
Flying J, a Utah-based gas supplier, challenged the Wisconsin Unfair Sales Act, which requires in-state gas dealers to mark up prices by at least 6 percent. The markup allows competitors to meet, but not beat, others' prices.
Flying J said the law stifled competition by blocking it from selling gas in Wisconsin for less than the statutory requirement.
The Federal Trade Commission and the Wisconsin Policy Research Institute have both concluded that the law prevents competitive price-cutting and encourages price collusion at the expense of Wisconsin consumers.
A feder  (go to article)